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    Blockchain

    Fed Launches New Instant Payment FedNow Service – Does This Undermine Crypto’s Use Case?

    The US Federal Reserve announced on Thursday that its long-awaited FedNow Service has gone live.

    Crypto Firm RISC Zero Secures $40M Funding Round Led by Blockchain Capital

    RISC Zero, a startup that builds zero-knowledge (ZK) proof software, has raised $40 million in a Series A funding round led by the major crypto-focused investor Blockchain Capital.

    24th Quarterly BNB Burn Successfully Completed by Binance

    The embattled crypto exchange giant Binance completed its quarterly burn of 1.99 million BNB coins worth around $477 million on Wednesday successfully. 

    Nomura’s Laser Digital Injects Fresh Funds Into Web3 Incubator Supported by Alan Howard

    Laser Digital, the Swiss digital asset subsidiary of the renowned Japanese financial services giant Nomura, has recently invested in Webn, an incubator backed by Alan Howard. 

    Crypto Privacy Protocol Manta Network’s Team Valued at $500M

    P0x, the development firm behind the privacy-preserving Polkadot-based protocol Manta Network, has reached a valuation of $500 million after concluding a recent funding round.

    UK Strongly “Disagrees” Recommendation to Regulate Crypto as Gambling

    The United Kingdom’s economic and finance ministry – HM Treasury – has strongly denied proposals by the House of Commons’ Treasury Committee to regulate cryptocurrencies like gambling.

    Republican Lawmakers Accuse SEC Chair Gensler of Manipulating News Cycle to Hinder Crypto Legislation

    Senior Republican members of the US House of Representatives expressed their concern about the US Securities Exchange Commission’s approach to crypto regulation in a letter to the financial regulator’s chair Gary Gensler. 

    Berenberg: Coinbase Earn Faces Significant Regulatory Challenges, Security Classification Risk

    Coinbase’s “Earn” program is particularly vulnerable to regulatory action following the recent ruling in the case between Ripple and the US Securities and Exchange Commission (SEC), a report from investment firm Berenberg Capital has warned.

    Web3 VC Funding Takes a Nosedive: Crunchbase Data Shows 76% Drop

    Funding of Web3 firms from venture capitalists has dropped 76% in the second quarter this year as compared to the same quarter in 2022, Crunchbase data revealed. 

    Deltec Bank’s Funds Seized by U.S. Secret Service in Money Laundering and Fraud Probe

    The U.S. Secret Service seized multiple corporate accounts last month controlled by Deltec Bank, a Bahamian bank with ties to crypto-related firms. 

    FCA Issues Warning: Crypto Memes Could Violate Financial Promotion Rules

    Crypto memes may amount to criminal offenses if they don’t comply with existing financial promotion rules, warned the United Kingdom’s top financial regulator on Monday. 

    Financial Services Giant Societe Generale Secures First French Crypto License For Its Crypto Division

    French banking giant Societe Generale’s crypto arm has received a full Digital Asset Service Provider (DASP) license from the country’s financial regulator Autorité des Marchés Financiers (AMF).

    Hedera Network Powers Shinhan Bank’s Successful Test of Stablecoin Payments

    The South Korean commercial banking giant Shinhan Bank completed an EMV-compatible feasibility test for stablecoin remittance payments on the Hedera network. 

    Australian Securities Regulator Revokes FTX’s Local Financial Services License

    The Australian Securities and Investments Commission (ASIC) has canceled the financial services license of FTX’s Australian subsidiary effective from July 14, impacting 30,000 customers.

    Hardware Wallet Maker Ledger Targets Latin America Growth

    The crypto hardware wallet producer Ledger is looking to expand into the Latin America region, and is targeting growth in “Central and South America.”

    Report: Declining Profit Forces Binance Crypto Exchange to Scale Back Employee Benefits – Is The Bear Market Back?

    Binance, the world’s largest cryptocurrency exchange, has grown increasingly frugal amid declining profits after boasting that it had prepared a “war chest” last year.